This invention relates generally to management functions within an organization, and more specifically, to computer-based methods and systems for assisting organization management during, for example, business transactions.
In the traditional boardroom setting, a board of directors meet, typically monthly, quarterly or semi annually, to be updated on corporate progress, discuss management issues and to review any major business deals that may be in progress. A board of directors is typically composed of individuals who are geographically diverse, perhaps even international. Getting all members of the board together in one place therefore can be a formidable task, especially considering that a typical board member is usually employed in a top level position at another company or has other, similar constraints on his or her time.
In addition, information gathering for such a meeting is in and of itself a daunting task, especially for a large international corporation. Information from subsidiaries and components the world over has to be gathered and condensed into a format, typically paper handouts, where directors with multiple levels of understanding can digest and come to understand what is in the presentations or meeting agendas and make reasonable business decisions for the corporation. Directors are expected to make decisions on, for example, potential business deals, financial outlooks, quality initiatives, compliance, and business development.
Director review, in regard to potential business deals, is typically limited to those considered very significant to the organization or corporation. In preparing for such a review, a business normally creates a transaction review document (“deal package”) that includes a pitch, cover memo and appropriate preliminary managerial approvals. After the transaction review document is assembled, it is circulated to the various directors for review and an ultimate acceptance or rejection at the board meeting. During this process, recommendations may be made by the directors. However, if the board is unable to meet, the deal is stalled until a board meeting can be held.
Known organizational management and decision making methods, as described above, have several disadvantages. For example, the methods are largely paper-based and very time consuming. It would be desirable to develop methods and systems that would allow a management function to receive and review the information needed to make important decisions regarding the business at anytime or anyplace without the expense and logistics of the known paper based systems or scheduled meeting methodology and travel constraints.